Poorly-Timed SPR Oil Release Could Cost U.S. Taxpayers $1.5 Billion

Perspectives Content Submission

Mon, 27 Jun 2011

World crude oil market has been rocked by the surprise announcement of the International Energy Agency (IEA) to release 60 million barrels of oil from member countries’ strategic petroleum reserves (SPR). The US led the effort by chipping in 50% of the planned release, while Japan, Germany, France,…